Freshpet (NASDAQ:FRPT) Sees Strong Trading Volume Following Earnings Beat

Freshpet, Inc. (NASDAQ:FRPT) shares saw unusually-high trading volume on Monday following a better than expected earnings announcement. Approximately 300,025 shares were traded during trading, a decline of 48% from the previous session’s volume of 572,506 shares.The stock last traded at $143.50 and had previously closed at $133.69.

The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.10. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $248.36 million. Freshpet had a return on equity of 1.78% and a net margin of 2.86%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.15) EPS.

Analyst Ratings Changes

FRPT has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $150.00 price target on shares of Freshpet in a research report on Friday, November 1st. DA Davidson lifted their price target on Freshpet from $183.00 to $189.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird lifted their price target on Freshpet from $157.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup lifted their price target on Freshpet from $124.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 17th. Finally, Bank of America boosted their target price on Freshpet from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Freshpet currently has a consensus rating of “Moderate Buy” and an average price target of $156.13.

Insider Activity at Freshpet

In related news, EVP Stephen Macchiaverna sold 2,178 shares of Freshpet stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.01, for a total value of $304,941.78. Following the sale, the executive vice president now directly owns 86,039 shares in the company, valued at $12,046,320.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.70% of the company’s stock.

Institutional Trading of Freshpet

A number of institutional investors have recently bought and sold shares of FRPT. ORG Wealth Partners LLC purchased a new stake in Freshpet during the third quarter worth $29,000. ORG Partners LLC acquired a new position in shares of Freshpet in the second quarter worth $32,000. Whittier Trust Co. acquired a new position in shares of Freshpet in the first quarter worth $41,000. GAMMA Investing LLC raised its holdings in shares of Freshpet by 41.1% in the second quarter. GAMMA Investing LLC now owns 371 shares of the company’s stock worth $48,000 after acquiring an additional 108 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Freshpet by 3,670.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 377 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the last quarter.

Freshpet Stock Performance

The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 170.33 and a beta of 1.39. The stock has a fifty day moving average price of $138.19 and a two-hundred day moving average price of $129.63. The company has a quick ratio of 3.69, a current ratio of 4.50 and a debt-to-equity ratio of 0.42.

About Freshpet

Freshpet, Inc, together with its subsidiaries, manufactures, distributes, and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. It sells dog food, cat food, and dog treats under the Freshpet brand name; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online.